Egypt exports gas to Romania

Oct 16, 2004 02:00 AM

Minister of Petroleum Sameh Fahmy and Romanian Deputy Premier and Minister of Trade Dan loan Pompiscu attended the signing ceremony of an agreement on exporting natural gas to Romania.
The Ministry of Petroleum said the agreement stipulates the formation of a joint working group to finalise an initial protocol on selling gas to Romania and exporting it through its territories. It also set the amount of gas exports which would be either transported through a pipeline or liquefied in canisters.

The group will report to the ministers concerned every three months and will meet monthly in Cairo and Bucharest in tandem. The two ministers also attended the signing ceremony of a joint company that will manufacture oil well equipment in Egypt.
The Egyptian shareholders will include the Egyptian General Petroleum, PetroJet & Enppi and the Arab Organisation for Industrialisation. On July 1, Egypt's state-owned Alexandria Petroleum signed a $ 59 mm deal with the Industrial Company of Romania for a petrochemical project.

The industrial company of Romania will build a condensate fractionation project for the Egyptian firm.
"They signed the contract on 28 June," said Saad Tanious, president of the Petroleum Engineering Company. "It is a turnkey job that will involve extending Alexandria Petroleum's refinery," he added.
Doru Costea, Romania's ambassador to Egypt, said his country wanted to expand trade with Egypt.
"We are interested in expanding our cooperation to include projects in southern Egypt," he said.

Costea said in previous statements that Romania provides 60 to 62 % of Egypt's heavy-weight tractor requirements and that it wants to introduce small and medium power tractors to southern areas.
Egypt is Romania's biggest trading partner in the Middle East. According to official Romanian figures, Egypt ranked number eight among Romania's trading partners during the first quarter of 1997.

On his part, Minister Fahmy said his talks with the Romanian official were constructive and the two sides expressed viewpoints and ideas on ways of boosting cooperation in all fields.
He added that he would travel to Italy to attend meetings of the international conference of the Euro-Mediterranean association in energy where the participants would discuss acceleration of extending the Arab gas pipeline to the European one in a way that allows exporting Egyptian gas to Central European countries.

Source: LiquidAfrica
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